BMW Open Looking For Replacement For Recently Bankrupted Current Organizer

The BMW Open tennis tournament is looking for a new organizer after license holder Iphitos Sportveranstaltungs GmbH decided to terminate the contract with current organizer Charly Steeb GmbH on Sept. 31. The reason for Iphitos' decision is that the Charly Steeb GmbH filed for bankruptcy at the end of August. The Charly Steeb GmbH expects to open insolvency proceedings on either Oct. 1 or Oct. 15.  The contract between Iphitos and the Charly Steeb GmbH, which organized the tournament for the first time this year, was expected to run until '15. Iphitos Managing Dir Fabian Tross said that the license holder is in talks with three to four agencies. According to German sports business magazine Sponsors, Hamburg-based agency SPORTFIVE is one of the interested agencies. The BMW Open is an annual ATP World Tour 250 event and takes place in Munich, Germany (SPONSORs).